Convergys Corporation, the global leader in integrated billing, employee care, and customer care services, announced today its financial results for the first quarter of 2004.
Total revenues increased 2 percent to $573.9 million compared to $560.4 million reported in the first quarter of 2003. Operating income and operating margin were $54.9 million and 9.6 percent, respectively, versus $68.5 million and 12.2 percent in the prior year. GAAP net income was $32.5 million or $0.22 per diluted share compared with $34.9 million or $0.22 in the first quarter of 2003. On a pro forma basis, excluding the legal settlement by Convergys' cellular partnership, net income and diluted earnings per share were $41.3 million and $0.26 in the prior year.
"Our first quarter clearly proved that we are winning in the market across our businesses. Our strategy for returning our Information Management business to growth in revenue and profit continues to be validated. In the last few months we reaffirmed our long-standing relationship with AT&T Wireless, established a new relationship with Verizon Wireless, expanded and extended our relationship with Sprint, extended our relationship with Insight Communications, and signed five new international license agreements," said Jim Orr, Chairman, President, and CEO of Convergys. "Our Customer Management Group is continuing its pattern of growth supported by a strong pipeline in both Customer Care and Employee Care."